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stuart: president obama will not budge on raising tax rates on the rich. speaker boehner responded to that this morning with a very brief statement, almost a bust, saying the president has an obligation to come up with a plan that would pass congress. not much response from the market. in fact zero response from the markets at all. citigroup shares moving this morning. citi announced plans to lay off, cut, 11,000 jobs worldwide. it will save more than a billion dollars in expenses. citi calls the job plan a repositioning of the company. the stock is up 4%. netflix down again after announcing a massive deal with disney that gives netflix exclusive rights to run disney movies first. investors don't like the cost of the deal. 300 million dollars a year. doesn't even begin till 2016. the stock is down. mike reagan is next with a new low -- i'm calling it a new low reached by the california teachers' union. mike reagan is next on that. stuart: you've got to take a look at this video out of california. it's incredible. it is from the teachers' union. >> because
stuart: president obama will not budge on raising tax rates on the rich. speaker boehner responded to that this morning with a very brief statement, almost a bust, saying the president has an obligation to come up with a plan that would pass congress. not much response from the market. in fact zero response from the markets at all. citigroup shares moving this morning. citi announced plans to lay off, cut, 11,000 jobs worldwide. it will save more than a billion dollars in expenses. citi calls...
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the one thing we do know, your taxes are going up from an obama care tax attack. no matter what happens on the fiscal cliff. and is another bailout nation on the way? student loans up to $1 trillion, huge delinquency rates, default rates going sky high, no credit standards and sky high tuition. sound likes a real bad story to me. ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank finefein. >> the highlight of the meeting was the intensity from which the white house emphasized that marge al rates as a matter of math and politics have to go up somewhat, if not all the way to 31.6 had to go up and as p he said as a necessary ingredient of a deal, he would support such a rate. >> the president said we would pursue our own interests. i'm not -- i'm certainly not insisting, i don't even desire higher rates. i think there lab drag if revenue goes up and rates go up. but i think there will also be a drag on the american economy if our budget deficit widens out fo
the one thing we do know, your taxes are going up from an obama care tax attack. no matter what happens on the fiscal cliff. and is another bailout nation on the way? student loans up to $1 trillion, huge delinquency rates, default rates going sky high, no credit standards and sky high tuition. sound likes a real bad story to me. ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank...
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Nov 29, 2012
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it's not like folks who make more than 250 aren't getting a tax break, they've getting a tax break on the first 250, just like everybody else. >> congressman cole first said this in a closed door meeting with republicans yesterday. he said basically exactly what president obama just said and he then expanded on his comments instead of denying them or refusing to comment at all, which he could have done. house speaker john boehner, who needs other loyal republicans to start talking sense to crazy tea party, he was outraged by his suggestion. >> you're not going to grow the economy if you raise tax rates on the top two rates. we're willing to put revenue on the table as long as we're not raising rates. >> but that didn't stop congressman cole from going on hardball today continuing to sell the idea of making peace with the president for the sake of 98% of american taxpayers. >> if the president's willing to accept 80% of the bush tax cuts for 98% of the american people and make them permanent, i think that is a point we should agree op. >> tom cole also made it clear he is still a boehn
it's not like folks who make more than 250 aren't getting a tax break, they've getting a tax break on the first 250, just like everybody else. >> congressman cole first said this in a closed door meeting with republicans yesterday. he said basically exactly what president obama just said and he then expanded on his comments instead of denying them or refusing to comment at all, which he could have done. house speaker john boehner, who needs other loyal republicans to start talking sense...
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Dec 6, 2012
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to bial theail them as far as obama taxing the rich, you notice he does not touch entitlements. most of the rich is going to get off on tax breaks so there will only be certain rich that will be taxed. host: from "the hill" this morning -- 40 something republican senators sent a letter to the president yesterday. they conclude by saying -- again, this is 40 something republican senators, a letter to the president yesterday. back to your calls on the future for an the rodham clinton. this is a democrat from ohio. caller: i am fine tha, thank yo. i think if we get through these next four years, hillary clinton would make a good candidate and a good president for our country. i think she would move the country continuously. she knows a lot about the foreign affairs. i think she would be a good candidate. host: thank you for calling in this morning. caller: i am still wondering what happened to all that money they found when they went in over to iraq. could you please get me an answer to that question? host: probably not in the next 30 seconds but that is a good question that you ha
to bial theail them as far as obama taxing the rich, you notice he does not touch entitlements. most of the rich is going to get off on tax breaks so there will only be certain rich that will be taxed. host: from "the hill" this morning -- 40 something republican senators sent a letter to the president yesterday. they conclude by saying -- again, this is 40 something republican senators, a letter to the president yesterday. back to your calls on the future for an the rodham clinton....
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by treating obama's tax the rich philosophy, this obama supporter got an extra $4 million. i say that is hypocrisy. will you join me in condemning the hypocrisy of the superrich? [ laughter ] >> stuart, it is good to be here. i will have to look into that one a little more closely. i think we are getting closer to a deal before christmas. stuart: the bottom line is, i agree with you, by the way, i do not know about a deal before christmas, but i am sure that the president will insist on taxing the rich. it is written law. get out there. the rich will pay more money at the beginning of next year. i think we agree on that. >> that is what he campaigned on. stuart: now, if there is no agreement, the republicans will get the blame, won't they? they rejected this deal. this generous offer. >> there is a plan on the table. it is the fiscal cliff. we will have very large tax increases for everybody. the president has proposed something that would force all of that. can the republicans offer publicly an alternative, either to the fiscal cliff or to what the president is offering. t
by treating obama's tax the rich philosophy, this obama supporter got an extra $4 million. i say that is hypocrisy. will you join me in condemning the hypocrisy of the superrich? [ laughter ] >> stuart, it is good to be here. i will have to look into that one a little more closely. i think we are getting closer to a deal before christmas. stuart: the bottom line is, i agree with you, by the way, i do not know about a deal before christmas, but i am sure that the president will insist on...
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Dec 7, 2012
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rates, about entitlement spending, about deficits that have topped $1 trillion throughout the obama presidency. i suspect all of them eventually are going to get settled but they aren't going to get settled at the same time, including the debt limit increase. >> john harwood, thank you. >>> let's see where we do stand on the fiscal cliff deal. let's look at our "rise above" meter. time to stop talking and start actle. we were at a half-way point, now back to a quarter on the "rise above" meter, closing to no deal than deal. >>> lawmakers trying to solve the fiscal cliff issue. police trying to solve a burglary at the home of california congressman darrel issa. according to reports, more than 50 pieces of jewelry worth about $100,000 were stolen from the congressman's home on november 29th. watches, earrings, rings, bracelets involved and what issa spokesperson calls irreplaceable family air looms. >>> to the jobs report today. super storm sandy slammed the east coast but it looks like it didn't have all that much impact on the labor market. november jobs numbers coming in much stron
rates, about entitlement spending, about deficits that have topped $1 trillion throughout the obama presidency. i suspect all of them eventually are going to get settled but they aren't going to get settled at the same time, including the debt limit increase. >> john harwood, thank you. >>> let's see where we do stand on the fiscal cliff deal. let's look at our "rise above" meter. time to stop talking and start actle. we were at a half-way point, now back to a quarter...
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Dec 1, 2012
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the taxes will go up for the top 2%. obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families. that's already passed the senate. your members of congress, like allyson and chaka, other democrats in the house, they're ready to go, they're ready to vote on that same thing. if we can just get a few house republicans on board, we can pass the bill in the house, it will land on my desk, and i am ready, i have got a bunch of pens ready to sign this bill. >> 30 minutes after the president was finished, house speaker john boehner held a press conference, and he left unanswered the president's call for decoupling that 98% from the richest 2%, and he gave a pessimistic assessment of the si
the taxes will go up for the top 2%. obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families....
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. >> california, they just voted 13.3% state tax on top of the obama 40% tax. >> why do you think people are leaving? why would you stay there? >> you wouldn't. >> good to see you. the five is doing great. won greatlation toss both of you. coming up, liberals deny there are any eye vent extremists on theiren of the video spectrum but anarchists are now calling for violence on american soil. and is john boehner retaliating against his own tea party members? we have two congressmen who stood by the tea party principles and they now find themselves stripped of key positions. we will tell you what they are going through inside the going through inside the spspspspspspsp having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is n
. >> california, they just voted 13.3% state tax on top of the obama 40% tax. >> why do you think people are leaving? why would you stay there? >> you wouldn't. >> good to see you. the five is doing great. won greatlation toss both of you. coming up, liberals deny there are any eye vent extremists on theiren of the video spectrum but anarchists are now calling for violence on american soil. and is john boehner retaliating against his own tea party members? we have two...
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obama is flexible of highest tax rates. and what it says is that it's not so much that he won't sign anything, it's more of how high the tax rates would go. so does that -- how do you see that? how do you reed that? caller: i would really be disappointed in that, because he's been fighting for that since the beginning. he relented a few years ago in order to save the unemployment insurance for the unemployed people and some other stipulations that were being held hostage by the g.o.p. but he doesn't have to do that any more. and right after he did that, they called that his tax breaks for the wealthy. and he absolutely didn't want to do that. but he felt compeled to to save the people who really needed help. he doesn't need to do that now. those same people that needed that help, they realized that he did that for him. if all of the tax rates go up, and i'm one of those below $40,000, all of the tax rates go up, i'd be willing to sacrifice just so the black mail can't continue. host: all right fran, thank you for calling in
obama is flexible of highest tax rates. and what it says is that it's not so much that he won't sign anything, it's more of how high the tax rates would go. so does that -- how do you see that? how do you reed that? caller: i would really be disappointed in that, because he's been fighting for that since the beginning. he relented a few years ago in order to save the unemployment insurance for the unemployed people and some other stipulations that were being held hostage by the g.o.p. but he...
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charles crowd hammer says president obama likes those tax rates so much let's let him live with them for everybody. >> what he will say is i wanted to do legislation to exempt the middle class, but the republicans wouldn't give me the bill. he is prepared, megyn, bluntly to sacrifice the interest of the larger whole to win a political fight. when i was working for clinton we did a deal with gingrich. there was never ever a sense that we would put politics ahead of getting a balanced budget. we got it, we won the election and this president is putting politics ahead of everything. megyn: if republicans give president obama the tax rates on the rich what do they have to negotiate with? why would they do it? >> i think president obama has the winning hand. >> he does. >> i'm not sure in the long term -- if there is a recession, either there won't be a recession or there will and the republicans will get the blame. that's and high wire act to do at this point. it's very risky from this kind of elect to take this. he could get 85% of what he wanted -- >> he's also gambling on one thing. t
charles crowd hammer says president obama likes those tax rates so much let's let him live with them for everybody. >> what he will say is i wanted to do legislation to exempt the middle class, but the republicans wouldn't give me the bill. he is prepared, megyn, bluntly to sacrifice the interest of the larger whole to win a political fight. when i was working for clinton we did a deal with gingrich. there was never ever a sense that we would put politics ahead of getting a balanced...
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tax cuts, and sort of dare the republican party not to vote for, you know, a new round of obama tax cuts. politically the president holds those but it's more important than that. the american people, after looking at options presented to them reclearly with a return of president obama to the white house, or initiating mitt romney presidency, chose a return of president obama to the white house and therefore gave him a very clear mandate to hold the line on the question of entitlements there when it comes to talking about entitlements, or earned benefits as progressives like to refer to it, what is the way that the president and those on the left can look and also appear to the right to be willing to compromise? what can they put on the table, if anything? >> well, i just don't think that any of us think that it is a reasonable idea to over the course of the next week and a half, over the course of the holiday season, for the president and this congress, which is a lame duck congress, to engage in major entitlement reforms of programs that have helped to lift millions of americans ou
tax cuts, and sort of dare the republican party not to vote for, you know, a new round of obama tax cuts. politically the president holds those but it's more important than that. the american people, after looking at options presented to them reclearly with a return of president obama to the white house, or initiating mitt romney presidency, chose a return of president obama to the white house and therefore gave him a very clear mandate to hold the line on the question of entitlements there...
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rates are going to automatically increase, which means any lower tax rates president obama will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and deadline pressure and momentum you're not going to have after you're over the fiscal cliff. so every day that goes by after january 1st isn't going to look like that big of a deal and essentially, time will run out for both parties, you will have a lot of problems in 2013, they will take the lion's share away from fiscal dealmaking, senate confirmation, have the debt ceiling, the long-delayed nuclear negotiableses with iran, going to have posturing for the 2014 campaigns. all of those things are going to suck out the moment up that we have right now. so, yes, democrats are not as bad off as the r
rates are going to automatically increase, which means any lower tax rates president obama will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and...
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. >> obama: if congress does nothing every family in member will see their taxes automatically go up at the beginning of next year. >> stephanie: so what is your guess? >> you say that like it's a bad thing. >> stephanie: what is your guess on how this is going to play out and when. >> i think republicans are going to blink. i think they have to. but i was talking to the other somebody the other day and they said do you think the president should be campaigning around the country? it's about time. he should be out there on the stump just like the campaign, and that's when he's at his best, and that's when the republicans are on the ropes. >> stephanie: it's a different reality now. despite what they have to say they always have something to to say that is the same thing. are you okay? you're giving me that look. >> i got a late start on the stream because i was running around looking for headphones. >> stephanie: here is the president again. >> obama: again i'm asking congress to listen to people who sent us here to serve. i'm asking americans all across the country to make your voic
. >> obama: if congress does nothing every family in member will see their taxes automatically go up at the beginning of next year. >> stephanie: so what is your guess? >> you say that like it's a bad thing. >> stephanie: what is your guess on how this is going to play out and when. >> i think republicans are going to blink. i think they have to. but i was talking to the other somebody the other day and they said do you think the president should be campaigning...
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he has a trillion -- there's $1 trillion of tax increases baked into the cake because of obama's 20 taxes in obamacare. 90% of those tax increases that obama put into obamacare were conveniently put in to take effect after he got re-elected to the presidency. so there a massive tidal wave of obama tax increases coming at the american people, starting in january. has nothing to do with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those taxes did take place after the election. that's something we pointed out and is a fair point. but let me just ask you about the compromise we have to go to. because like i said, again, to get this done, taxes are -- i mean, they're going to go up on somebody. i just believe that this is what is going to happen. i think tom cole thinks it's going to happen. i think tom coburn thinks it's going to happen. i wanted to play a bite from him and get your reaction. here he is. >> sure. >> i'm okay to compromise even on some of my issues, if, in fact, we'll solve the problem. but what we have is a game being played f
he has a trillion -- there's $1 trillion of tax increases baked into the cake because of obama's 20 taxes in obamacare. 90% of those tax increases that obama put into obamacare were conveniently put in to take effect after he got re-elected to the presidency. so there a massive tidal wave of obama tax increases coming at the american people, starting in january. has nothing to do with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those...
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they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and you think a normal human being with, you know, would be ashamed of that lack of intellectual honesty, should be. >> it's fascinating economic dri that costco is borrowing the money to pay this dividend. now, usually when companies pay dividends, it's out of earnings, right? >> yes, retained earnings, in this case, they're borrowing, taking on more debt, not to invest in the business in the future growth, but for a one-time equity pay out. >> and to worry about interest rates are low thanks to ben bernanke. >>, but this shows the tax rates combined with very low bore heing costs and instead of investing in growth, you're investing in tax avoidance. >> and russell long said, i've come to the conclusion if you're going to have capitalism, you're going to need capital. >> goes to the heart of this, right? >> pure genius, except what's happening here is that capital could be invested in productive businesses or used next year is being pulled out of 2013, into 2012 so it can be realized as
they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and you think a normal human being with, you know, would be ashamed of that lack of intellectual honesty, should be. >> it's fascinating economic dri that costco is borrowing the money to pay this dividend. now, usually when companies pay dividends, it's out of earnings, right? >> yes, retained earnings, in this case, they're borrowing, taking on more debt, not to invest in the...
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president obama has thrown down the gauntlet on taxes and while the gop is stomping its feet at making the wealthy to pay a bit more, he's making his pitch to the people. at a toy factory today, he warned them to play nice. >> joe biden was in costco. he wanted to buy some of this stuff. but i told him he had too much work to dochl i wasn. i told him he wasn't going to build roller coasters all day long. of course, santa delivers everywhere. i've been keeping my own naughty and nice list for washington. so you should keep your eye on who gets come kinects this year. there are going to be some members of congress who get them and some who don't. >> what sort of plan do you give the republican who won't agree with anything? this one, of course. the president is asking for a $1.6 trillion tax increase, $50 billion in economic stimulus, and the power to raise the debt limit without congressional approval. meanwhile, he will work the fine savings in entitlements. not to the man sitting on the naughty list. senator mcconnell said that he burst into laughter at the proposal. you know what is
president obama has thrown down the gauntlet on taxes and while the gop is stomping its feet at making the wealthy to pay a bit more, he's making his pitch to the people. at a toy factory today, he warned them to play nice. >> joe biden was in costco. he wanted to buy some of this stuff. but i told him he had too much work to dochl i wasn. i told him he wasn't going to build roller coasters all day long. of course, santa delivers everywhere. i've been keeping my own naughty and nice list...
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we have seen in the past obama has had to make a deal on taxes. host: what specific benefits do these programs provide? guest: usually some kind of a cash benefit or they may help the search for a job. it is usually about $300 a week. it can vary from state sen. in the mississippi i want to say it is closer to $200. host: how are the programs funded? guest: they are funded through payroll taxes. through the trust the state administers the program and the money goes to the unemployed. host: talk about qualifications for unemployment insurance. what do people have to meet in order to apply? guest: generally what you have to do is you have to have a year of earnings. your earnings have to meet a certain threshold. you have to have been let go from a job. you cannot storm off having quit and necessarily qualify for -- to qualify for unemployment benefits. if he graduated from college and do not have a job, you get unemployment benefits. it is a pretty easy system to get into if you were laid off after 10 years. host: we have some qualifications a pers
we have seen in the past obama has had to make a deal on taxes. host: what specific benefits do these programs provide? guest: usually some kind of a cash benefit or they may help the search for a job. it is usually about $300 a week. it can vary from state sen. in the mississippi i want to say it is closer to $200. host: how are the programs funded? guest: they are funded through payroll taxes. through the trust the state administers the program and the money goes to the unemployed. host: talk...
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, and it was very clear on obama wanted tax raised for the highest income americans. didn't the american people make that choice in voting for him, the electoral college and the popular vote? so isn't it incumbent on republicans to at least accept some upper income tax raise there? >> i think that the american public voted for the status quo. they voted for the gridlock that they had before the election. i think it's a little foolish of the american people to think they are going to get something different based on what they voted for. >> you think they want the status quo? >> people are locked in in the house, largely for redistricting. well, they voted for it. whether they wanted it or not, to think these people are going to change long-held habits based on one election, i think is a little bit silly. we're going to have gridlock in washington and frankly, i think gridlock is a good thing, not a bad thing. it keeps congress from taking away more liberties. >> the other thing, anderson, is that when you look at the members of congress, overwhelmingly, they were re-el
, and it was very clear on obama wanted tax raised for the highest income americans. didn't the american people make that choice in voting for him, the electoral college and the popular vote? so isn't it incumbent on republicans to at least accept some upper income tax raise there? >> i think that the american public voted for the status quo. they voted for the gridlock that they had before the election. i think it's a little foolish of the american people to think they are going to get...
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in this horrific obama recovery. sure, if he wants to say it's a fairness thing, people don't think that's fair. they want debt entitlement -- debt and entitlement restructuring. that's what they voted for and the reason he's doing it now is because none of the democratic senators that were elected, and they did a great job, they really kicked our butts with these senators, none of them, not a one of them ran on increasing taxes on anybody in this kind of recovery. that top 2% are the job creators. they're small businesses. >> he also wants congress to give up that leverage over the debt ceiling because that is also presenting itself as another ugly battle. and you know what, paul begala, it is being said that that is one heck of a piece of boehner leverage. >> well, it is. but i think it's outrageous. i think this brinksmanship about the budget and the fiscal cliff is all just fine. i don't want to go over the cliff. i think it would be irresponsible. >> does the president want to go over? we got to listen to all th
in this horrific obama recovery. sure, if he wants to say it's a fairness thing, people don't think that's fair. they want debt entitlement -- debt and entitlement restructuring. that's what they voted for and the reason he's doing it now is because none of the democratic senators that were elected, and they did a great job, they really kicked our butts with these senators, none of them, not a one of them ran on increasing taxes on anybody in this kind of recovery. that top 2% are the job...
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has managed to do it president obama's proposed tax increase on the wealthiest 2% of americans would affect 4 million households. they're predominately in areas like south florida major cities like new york, francisco and los angeles, all traditionally democratic enclaves. those who are won't pay the taxes oppose them, and those who will support it. here with me, robert reich at u uc berkeley's goldman school of policies. is this politics that goes back to what is the matter with kansas book a few years back. they would really not be affected by the tax increase that they want us to go through. >> it is one of the great ironies. it has to do with the big lie. if you tell the big lie over and over again people start believing it. and one of the lies that republicans have been telling for year is the lie of trickle down economics. the wealthy are job creators. if you tax them you'll have fewer jobs, fewer--less income over all. it's obviously a lie. it has proven to be a lie. if you tell it again over and over again at least enough people begin believing it in red states. people who ar
has managed to do it president obama's proposed tax increase on the wealthiest 2% of americans would affect 4 million households. they're predominately in areas like south florida major cities like new york, francisco and los angeles, all traditionally democratic enclaves. those who are won't pay the taxes oppose them, and those who will support it. here with me, robert reich at u uc berkeley's goldman school of policies. is this politics that goes back to what is the matter with kansas book a...
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lawmakers to accepting the tax hikes now. >> i miss visiting towns like this. >> president obama got his wish, rather than negotiating with republicans he was hamering them. back on the campaign trail in a factory that makes angry bird toys. >> it's not accept to believe me and i don't think it's acceptable for you for republicans in congress to hold middle class tax cuts hostage because they don't want the tax rates on the upper income folks to go up. >> within minutes, john boehner fired back the talks are on life support. >> let's not kid ourselves. >> boehner ripped the president for sending treasury secretary ti tim geithner to capitol hill with a proposal that led mitch mcconnell literally burst out laughing. >> the white house took three weeks to respond with any kind of proposal. and much to my disappointment, it wasn't a serious one. >> their beef is the president campaigned on $800 billion in tax increases by ending the bush tax cuts for the wealthy. but is now proposing double that. $1.6 trillion. by adding tax hikes on dividends and capital gains. plus, the white house wa
lawmakers to accepting the tax hikes now. >> i miss visiting towns like this. >> president obama got his wish, rather than negotiating with republicans he was hamering them. back on the campaign trail in a factory that makes angry bird toys. >> it's not accept to believe me and i don't think it's acceptable for you for republicans in congress to hold middle class tax cuts hostage because they don't want the tax rates on the upper income folks to go up. >> within minutes,...
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if you consider what president obama put forward yesterday with a $1.6 trillion in tax increases mostly on the wealthy, every single economic study has shown that that will have virtually no impact on gdp growth. the congressional budget office did a study that showed that it would decrease gdp growth by 0.1%. virtually no impact. republicans didn't like that cbo study although they always like the cbo. so they went to crs to see if they could do another study that would differ from the cbo study. crs confirmed it. all the economists are unanimous if we're going to try to go after the debt, now that we have virtually 3% gdp growth, we want do it in a way that's least damaging to the economy. almost all of them agree the obama approach is the right approach. increasing the rates on the wealthy will have no impact on job creation or gdp growth. >> professor dyson, we found out today that the austerity budgets used in the eurozone have sent employment to record highs. unemployment in spain is at 25%. unemployment in greece, 25%. how is it possible speaker boehner comes out and promotes pau
if you consider what president obama put forward yesterday with a $1.6 trillion in tax increases mostly on the wealthy, every single economic study has shown that that will have virtually no impact on gdp growth. the congressional budget office did a study that showed that it would decrease gdp growth by 0.1%. virtually no impact. republicans didn't like that cbo study although they always like the cbo. so they went to crs to see if they could do another study that would differ from the cbo...
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for the top 2%. >> so are you saying then for pr purposes, that they should give into obama on the tax rate? >> not exactly. well, yeah, i guess i am. >> i'm sorry, that was not one of the top conservative minds. that was ann coulter, but you have to and it to her. she's onto something there. a new quinnipiac poll shows 65% of americans support higher taxes on incomes over $250,000. the same survey showing the president's approval rating at a three-year high, 53%. the highest level since the body of osama bin laden was dumped in the north arabian sea. perhaps that's why senate majority leader harry reid felt confident enough to declare that until republicans move on tax rates, more spending cuts are off the table. >> the president made clear, i have tried to make very clear, until there's some movement in tax rates, we're -- i'm not talking about any other proposals, not about where there will be a cut here or a cut there. >> no. as a matter of fact, the only cuts the senate is talking about today are in terms of staff on the republican side. with the surprise news today that senator j
for the top 2%. >> so are you saying then for pr purposes, that they should give into obama on the tax rate? >> not exactly. well, yeah, i guess i am. >> i'm sorry, that was not one of the top conservative minds. that was ann coulter, but you have to and it to her. she's onto something there. a new quinnipiac poll shows 65% of americans support higher taxes on incomes over $250,000. the same survey showing the president's approval rating at a three-year high, 53%. the highest...
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obama, if he got his taxes on the rich, is still $8 trillion short over the next decade. that's where the energy taxes he's going to present and the value added tax that ultimately turns us into a european welfare state only of that can pay for obama's sized government. >> wow. grover, unfortunately we have to leave it there. our discussion of unicorns will continue, i'm sure, at least up until december 31st. thank you for joining us today as always. >> you got it. >> after the break, offer ver ses counteroffer. we will break both down with ezra klein when he joins us next on "now." i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and
obama, if he got his taxes on the rich, is still $8 trillion short over the next decade. that's where the energy taxes he's going to present and the value added tax that ultimately turns us into a european welfare state only of that can pay for obama's sized government. >> wow. grover, unfortunately we have to leave it there. our discussion of unicorns will continue, i'm sure, at least up until december 31st. thank you for joining us today as always. >> you got it. >> after...
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they refuse to admit to obama has a mandate to tax these rich people. just the other day the corporate income is up to 1175 trillion dollars. these corporations are sitting on this money. they sat on it all through the election to make obama look bad. i know that sounds like a conspiracy theory, but you have to look at what people are doing, not what they say they are doing. host: all right. let's move on to linda from tallahassee, florida. caller: i have been very disappointed in the republicans myself, and i have been a republican for a long time. this pastime i could not even vote republican because i was so aggravated in what i felt was misinformation from them. i am in the top 5% of american wealth. we owed nobody -- we have no bills. we know plenty of baker's. we felt these people were taking advantage -- would you are in the banking business, it is a public trust issue. they do not to make these loans and they made them anyway. i said, you should not be making these loans, it is not a good loan. it made them. they are not going to jail for it. no
they refuse to admit to obama has a mandate to tax these rich people. just the other day the corporate income is up to 1175 trillion dollars. these corporations are sitting on this money. they sat on it all through the election to make obama look bad. i know that sounds like a conspiracy theory, but you have to look at what people are doing, not what they say they are doing. host: all right. let's move on to linda from tallahassee, florida. caller: i have been very disappointed in the...
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then obama, you know, is not necessarily bound by just that demand. he could come and ask to free up more revenue. as dan was saying, i think they hope that something in the market will make the democrats move quickly but if they don't that just suggests that they don't have it within themselves as a party to vote affirmatively do so something. >> eliot: there is one other component that could create fear and tank the market, and that's the debt ceiling. that's the place where john boehner is saying there is an extra price for that. i'm going to extort an extra piece of this if you want me to raise the debt ceiling and don't fall into that bear trap once against we hope. that's something that we'll talk about. we'll take a break and my guests will stay with me. we'll talk about the meet and potatoes of it and the debt sealing. we'll be right back. mints called mints? answer in a moment. fruit just got cooler. fruit on one side, cool on the other. ice breakers duo. a fruity, cool way to break the ice. brought to you by ice breakers mints. break the ice
then obama, you know, is not necessarily bound by just that demand. he could come and ask to free up more revenue. as dan was saying, i think they hope that something in the market will make the democrats move quickly but if they don't that just suggests that they don't have it within themselves as a party to vote affirmatively do so something. >> eliot: there is one other component that could create fear and tank the market, and that's the debt ceiling. that's the place where john...
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tax rate? he raises the tax rate in order to spend. seems to me that taxing and spending is his mantra, just like the east european mantra and the california and new york -- why would you want to raise the tax rate $1.6 trillion if youp didn didn't want to spe? that's a big number. >> it is. jared bernstein was in "the new york times" complaining about the tax cutting in this country over the past 30 years. and jared says, we've gutted the tax code, we're just not getting enough revenue for all the spending we want. >> i would gut the tax code of all its special deductions and loopholes and whatnot and take the rate down to about 15%. i am a flat tax guy. what i don't get is why the united states wants to imitate the mistakes of western europe, jim pethokoukis. that's what i don't get. you get the last word. >> i think it's stunning and i hope we learn from yoour mistak as quickly as they did in great britain. >>> who needs to wait for a recession? our next guest says we may already be in one a
tax rate? he raises the tax rate in order to spend. seems to me that taxing and spending is his mantra, just like the east european mantra and the california and new york -- why would you want to raise the tax rate $1.6 trillion if youp didn didn't want to spe? that's a big number. >> it is. jared bernstein was in "the new york times" complaining about the tax cutting in this country over the past 30 years. and jared says, we've gutted the tax code, we're just not getting enough...
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. >> president obama accusing republicans ever being willing to raise taxes on 98% of americans, while speaker boehner said it's the president when is unwilling to compromise. it's time now for our sunday group. bill crystal of the weekly standard. marcha liason and ed rollins and former democratic senator that you heard. >> each of them are saying they are being reasonable and it's the other side's fault. you have been through your share of washington negotiations. what strikes you about what you heard today? >> i think they both made their case well but i think geithner is in a stronger position in this respect. the president is the president. he can maneuver, he can say my $1.6 trillion and he can say $1.2 trillion. speaker boehner has 135 members. they don't hop to it when he decides to move. he's in a tougher position structurally. in these show downs the white house usually wins and the main reason they win is it's a unitary executive. and congress is in a weaker position. >> all right. >> what happened this week is interesting. both sides are putting out their maximalist positio
. >> president obama accusing republicans ever being willing to raise taxes on 98% of americans, while speaker boehner said it's the president when is unwilling to compromise. it's time now for our sunday group. bill crystal of the weekly standard. marcha liason and ed rollins and former democratic senator that you heard. >> each of them are saying they are being reasonable and it's the other side's fault. you have been through your share of washington negotiations. what strikes you...
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obama said i wanted it extended for 2012. republicans at first said no, and boehner had to say no with them. when the deadline came last christmas, around last christmas republicans started to panic but polls showed people would blame them. all of a sudden those voices said let's not have this fight now. >> he's banking on that happening. >> that has to happen again. >> i spent some time working the phones today, because it's interesting to see both sides and by both sides i mean these guys. and then gop establishment guys sort of explain what's going on here today. from the perspective of these so-called dissidents as roll call is calling them. >> that's roll call. from their perspective they're punished for being too conservative. as you pointed out, steve, they're being punished in their minds for going too far to the right of people like speaker boehner. i talked to tim hul's camp, one of the congressman removed from two questicommittees. he said, look, this is something that establishment republicans do. how often do you
obama said i wanted it extended for 2012. republicans at first said no, and boehner had to say no with them. when the deadline came last christmas, around last christmas republicans started to panic but polls showed people would blame them. all of a sudden those voices said let's not have this fight now. >> he's banking on that happening. >> that has to happen again. >> i spent some time working the phones today, because it's interesting to see both sides and by both sides i...
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. >>> coming up, new signs president obama's winning the tax fight. news today could strengthen his hand against speaker boehner. >>> plus, karl rove hasn't learned a thing is since its infamous air meltdown. why is he questioning polls again? >>> and a very special guest is here with me tonight. we have a gold medal winner onset. gabby douglas live in the studio. her story of sacrifice inspired a country. you're watching "politicsnation" on msnbc. initiated. neural speeds increasing to 4g lte. brain upgrading to a quad-core processor. predictive intelligence with google now complete. introducing droid dna by htc. it's not an upgrade to your phone. it's an upgrade to yourself. >>> have you joined the "politicsnation" conversation on facebook yet? we hope you will. today our fans were buzzing over the newly released photo of the president on the phone with mitt romney as he conceded to him on election night. he have len says, the president was probably so glad it was over so that he could get back to working for our country. david says, he must have be
. >>> coming up, new signs president obama's winning the tax fight. news today could strengthen his hand against speaker boehner. >>> plus, karl rove hasn't learned a thing is since its infamous air meltdown. why is he questioning polls again? >>> and a very special guest is here with me tonight. we have a gold medal winner onset. gabby douglas live in the studio. her story of sacrifice inspired a country. you're watching "politicsnation" on msnbc....
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. >> including president obama actually making his appeal to business leaders on his tax plan. he's now reaching out following a very tough election campaign. >> and overseas, protests get violent in egypt where the once stable nation appears to be on the verge of crisis. first, let's get to the news live at 5:30 here at 30 rock in new york city. we begin with 25 days to go until the year end fiscal cliff deadline for the first time in days president obama and speaker boehner spoke on the phone yesterday. both men agreeing not to publicly characterize how the conversation went. but the stalemate in negotiations entered bold new territory yesterday with treasury secretary tim geithner suggesting the white house is ready to go off the cliff if republicans refuse to raise taxes on the top 2%. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest members. only 2%. the size of the problem in some sense is so
. >> including president obama actually making his appeal to business leaders on his tax plan. he's now reaching out following a very tough election campaign. >> and overseas, protests get violent in egypt where the once stable nation appears to be on the verge of crisis. first, let's get to the news live at 5:30 here at 30 rock in new york city. we begin with 25 days to go until the year end fiscal cliff deadline for the first time in days president obama and speaker boehner spoke...
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president obama and democrats are ripping him for resisting tax hikes on the rich. boehner's own party is giving him a hard time for not resisting hard enough. chief political correspondent carl cam has a deeper look at -- carl cameron has a deeper look at that story. >> john boehner is trying to stave off conservative rebellion in the ranks. his proposal to steer clear of the fiscal cliff raising tax revenue $800 billion closing the loopholes outraged antitax conservatives. when the speaker removed the conserve priv key committees in the past, the battle began. >> $800 billion over ten years and that looks like it would be a tax increase to me. 238 republicans, myself included, took a pledge not to raise taxes. they want to send a message to me to send a message to others. that we are not going to tolerate people who are interested in doing what is right. we want to play the same old game. if you try to disrupt that, we will knock you off a committee. >> for refusing to tow the leadership line, two conservatives were tossed off the house budget committee and david
president obama and democrats are ripping him for resisting tax hikes on the rich. boehner's own party is giving him a hard time for not resisting hard enough. chief political correspondent carl cam has a deeper look at -- carl cameron has a deeper look at that story. >> john boehner is trying to stave off conservative rebellion in the ranks. his proposal to steer clear of the fiscal cliff raising tax revenue $800 billion closing the loopholes outraged antitax conservatives. when the...
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president obama held firm to tax rate hike on the wealthiest. let's listen to the back and forth. >> revenues we're putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy. >> let's allow higher rates to go up for the top 2%, that includes all of you, yes. but not in any way that's going to affect your spending, your lifestyles, or the economy in any significant way. let's make sure that 98% of americans don't see it -- a single dime in tax increases next year. >> so, john boehner, the speaker for the republican party in this partisan fight is saying, he's already socking it to the rich. he's willing to raise their taxes in various forms but just not the rate. isn't he agreeing in principle to the president's argument of fairness? isn't he in a weaker position to deny a rate change? governor? >> sure he is, chris. number one, he hasn't specified
president obama held firm to tax rate hike on the wealthiest. let's listen to the back and forth. >> revenues we're putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy. >> let's allow higher rates to go up for the top 2%, that includes all of you, yes. but not in any way that's...
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there's $1 trillion of obama care taxes hitting in the next several years, many of them major taxes. if you have a flexible savings account on january 1 -- this isn't the fiscal cliff. this is what obama has already baked into the cake. your flexible savings account will be trashed by taxes. millions of special needs families will find their taxes go up. if you're really sick, you can't deduct as much of your health care costs as you used to. these are all the ways that obama's raising taxes, $1 trillion, $1.1 trillion, over the next decade. five major taxes. his new taxes are not off the table. they hit directly into the middle class. medical devices. when you go to the hospital, medical devices like riding in a wheelchair will get more expensive because of this tax. i mean, these taxes are damaging. he wants to make them permanent. >> i think grover knows that the major source of additional taxes is part of the affordable care act is asking higher income individuals over $250,000 to pay higher capital gains and more on their medicare contribution. that was the bulk of the taxes. so
there's $1 trillion of obama care taxes hitting in the next several years, many of them major taxes. if you have a flexible savings account on january 1 -- this isn't the fiscal cliff. this is what obama has already baked into the cake. your flexible savings account will be trashed by taxes. millions of special needs families will find their taxes go up. if you're really sick, you can't deduct as much of your health care costs as you used to. these are all the ways that obama's raising taxes,...
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mainly because president obama stood up for the middle class and said, when it comes to taxes, we all have to pay our fair share; no more, no less. so when you tell your friends that the president wants to give you your tax cut, you should tell them also it's being held up by the republicans in congress who are sitting on a bill that passed july 25, 2012. 98% of the american people will get their tax break continued, and only income over $250,000 will be taxed at the same rates when bill clinton was president. let's take a look back at those days. were they harsh for people? no. we had more millionaires created, i remember, in those days than we had in generations. you know why? because when the middle class is strong and he invested in the middle class, he invested in our people, they get good jobs, they pay enough taxes, they go to the mall, they make -- they take a trip across the country to see all the great landmarks, and people across this country who have businesses do well. that's why we see so many business people, including small business people, standing at president obama'
mainly because president obama stood up for the middle class and said, when it comes to taxes, we all have to pay our fair share; no more, no less. so when you tell your friends that the president wants to give you your tax cut, you should tell them also it's being held up by the republicans in congress who are sitting on a bill that passed july 25, 2012. 98% of the american people will get their tax break continued, and only income over $250,000 will be taxed at the same rates when bill...